With over 365 million people, India has the largest youth population (15 – 24) in the world leaving behind the likes of China and USA by huge margins. As per the current stats, there are approx. 140 Million active online users just in India alone – A pretty large sized target market (Almost 1/3rd the size of the US population, 4 times the size of the overall Canadian population). The unique aspect of this target market is that unlike the previous generations, neither do we need to go to marketplaces nor do we like doing that. Due to the widespread use of internet and the advancement of technology in our era, any information we require is on our fingertips. 76% of our generation owns a smartphon and we have a spending power of $10.5 billion which is rising at the rate of 12% per annum. We also account for the consumption of 32% of everyday consumer products. We as a target market are significant as we are huge in number, we have and will possess a lot of money, we influence the decision making of our family and friends, we set trends and are exposed to a number of media.
This led us to start Cyankart as we realized that there were multiple online sites that could service our needs for trendy products, but none were created purely for us. To understand the latest trends and buy those products was often a cumbersome exercise. Our Vision was to have this one site that could merge the concept of providing information on the latest product trends for the youth with a marketplace that would provide the product instantly to the end consumer.
Cynkart then started selling goods which people of our generation could relate to and lacked sellers online. To ensure good product quality we even opened up our own manufacturing unit. This apart from adding to our profit margins also allowed for speedy product delivery to our target clients. From starting to print our own t-shirt designs to phone covers, to accessories, we try to add more and more products every week. With plans to manufacture over 50 products within the next one year, we aim at satisfying greater demands. The idea is to bring in products and designs which the youth can relate to. Our tests turned out to be positive with a large number of people shopping on our site pan India. The response so far has been more than what we have expected at each step.
The Core Team
Abhay, 23, is one of the co-founders of Cyankart and currently the Managing Partner responsible for IT and Marketing departments at Cyankart. Abhay has been fascinated with technology since his early teenage years just like any other teenager in his age group. The difference was Abhay’s entrepreneurial spirit and his intellectual curiosity did not leave him satisfied as just being an average user of technology like his peers, he wanted to make his own mark in this field. This passion and enthusiasm resulted in Abhay creating his 1st website at the age of 14 (despite having no formal training in this field).
Varun, 23, is one of the co-founders of Cyankart and currently the Managing Partner responsible for R&D and Client Care. Varun comes from a family that has run an extremely successful retail business for over 70 years. Having worked in his family business at a very young age provided him with a unique expertise to understand his client needs. A family business that had immense competition in it’s field was able to distinguish itself from it’s competitors based on constant innovation in design, products and a very strong sense of Client satisfaction as demonstrated by the Client referral rates and the repeat order rates.
It is this very experience that Varun is utilizing to constantly innovate and provide the Cyankart clients with the latest trends. In his current capacity he is also responsible for ensuring Client Satisfaction in all facets.
Aditya, 26, is one of the co-founders of Cyankart and currently the Managing Partner responsible for Operations and Finance. He not only consistently exceled on the academic front, but is also a keener and visonary who wanted to test new theories and experiment with new ideas. Taking up small initiatives every now and then stimulated his mind and satisfied his entrepreneurial needs. For him joining a college meant a plethora of opportunities. However, after being a part of multiple groups, he finally found his calling at AIESEC, the world’s largest youth run organization. Within a year of dedication and hard work, he was promoted to head the corporate sector for the Delhi branch of AIESEC. Leading a team of over 60 individuals helped him realize his core and natural leadership strengths.
The experience he has gained thus far, along with his tenacity to be an over achiever has positioned him really well within Cyankart and is clearly evident in his Client Centric operations management of the organization. With the other two Managing Partners pursuing our academic goals, Aditya is currently playing a very crucial role in ensuring extreme synergy between all the groups in the organization.